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You have found an investment strategy based on public information that generates a high CAPM alpha. Which of the following is a potential explanation? A.

You have found an investment strategy based on public information that generates a high CAPM alpha. Which of the following is a potential explanation?

A. The CAPM does not work.

B. Markets are strong-form inefficient

C. This is due to luck.

D. All of the above

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